There is speculation that Gary Gensler, the chief of the United States Securities and Exchange Commission (SEC), may reject spot Bitcoin exchange-traded funds (ETFs) in a surprising move. Bloomberg ETF analysts have discussed the possibility of Gensler allowing spot Bitcoin ETF applications to accumulate before denying them all at once, likening it to a “semi-comedic […]
Terraform Labs co-founder Do Kwon and his legal team have requested a United States district judge to dismiss the securities and fraud suit filed by the federal securities regulator. They argue that the Securities and Exchange Commission (SEC) has failed to provide evidence of any wrongdoing. Kwon and Terraform assert that their cryptocurrencies, including Terra […]
The cross-examination of Sam Bankman-Fried (SBF), CEO of FTX, intensified during the fifth week of the high-stakes trial. SBF faced tough questioning about his involvement in the collapse of FTX and Alameda Research. In his direct examination, SBF discussed his role as CEO and outlined FTX’s strategic goals. He mentioned working on a database to […]
In a significant development for the crypto industry, the United Kingdom’s His Majesty’s Treasury (HMT) has released an update on the regulatory framework for crypto assets. The announcement demonstrates the UK’s commitment to fostering an open and well-regulated capital market that embraces the potential of cryptocurrencies and blockchain technology. The HMT’s response covers several key […]
Last week, the criminal trial of FTX founder and CEO Sam “SBF” Bankman-Fried continued in New York. Bankman-Fried testified in his defense, claiming that he had no knowledge of the creation of North Dimension, an alleged entity used to launder customer funds. He stated that former chief regulatory officer Dan Friedberg provided him with the […]
The Hong Kong Monetary Authority (HKMA) has concluded the first pilot project of the e-HKD, a retail central bank digital currency (CBDC), but remains undecided on whether to introduce it. While CBDCs have the potential to offer unique benefits, the HKMA emphasized the need for further research into their potential impact on the monetary system. […]
The UK Treasury has finalized its regulatory approach to the crypto industry, with a phased introduction set to begin in early 2024. The first phase will focus on regulating fiat-backed stablecoins, which are digital currencies that maintain a stable value by referencing traditional fiat currencies. The government aims to facilitate and regulate the use of […]
Asset management firm VanEck has amended its spot Bitcoin exchange-traded fund (ETF) application with the U.S. Securities and Exchange Commission (SEC). The amended filing reveals a unique seeding method, where the ETF will be seeded with Bitcoin. This approach differs from the seeding method used by competitor BlackRock. The filing states that an unnamed investor […]
Bitget, a prominent cryptocurrency derivatives and copy trading platform, has recently announced its plans to list TIA, the native cryptocurrency of Celestia’s blockchain ecosystem. This move positions Bitget as one of the first centralized exchanges to support TIA. By listing TIA, Bitget aims to provide its users with the opportunity to explore the potential of […]
The UK government has released a policy update outlining the regulation of fiat-backed stablecoins in the country. The update focuses on two areas: the use of stablecoins in payment chains and their issuance and custody within the UK. The Bank of England, the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR) will all […]
